GameStop stock heads for worst day in nearly 9 months

GameStop Corp.’s
GME,
-11.06%
stock was plunging Tuesday, reversing the gains made during Monday’s meme-stocks rally that also lifted AMC Entertainment Holdings Inc.’s
AMC,
-9.12%
stock. The video game retailer’s stock is down 12.3% in afternoon trading, compared with the S&P 500 Index’s
SPX,
+1.29%
gain of 0.9%. The stock is on pace for its largest percent decrease since May 11, 2022, when it fell 13.02%, according to Dow Jones Market Data.